STOCKS NEWS SINGAPORE-CIMB raises Ho Bee target price

CIMB Research raised its target price on Ho Bee Investment
Ltd to S$1.52 from S$1.27 and kept its 'neutral'
rating, to reflect cash proceeds from the sale of a hotel and
lower cap rates for industrial assets.

Shares of Ho bee have jumped nearly 47 percent since the
start of the year, compared to the FTSE ST Financial Index's
27.8 percent gain.

Ho Bee said it will sell Hotel Windsor for S$163 million,
giving it a net gain of S$25.9 million on completion, which will
lift its restated net asset value by 3 percent, CIMB said in a
note.

The brokerage noted that cash proceeds from the sale could
be used for capital expenditures at the China projects and
office development in Singapore, the Metropolis.

By 0109 GMT, units of Starhill were unchanged at S$0.79.
They have surged 41.7 percent since the start of the year,
compared to the FTSE ST Real Estate Investment Trust's
35.3 percent rise.

Starhill Global said its distribution per unit for the third
quarter rose 11 percent to 1.11 Singapore cents from a year
earlier, helped by strong property income growth for its
Singapore shopping malls.

Property income from Wisma Atria came in stronger than
expected, helped by positive rental reversions and full
committed occupancy at the mall, which helped offset weakness at
its China and Australia properties, OCBC said.

CIMB Research also raised its target price for Starhill to
S$0.81 from S$0.75 and kept a 'neutral' rating to factor in a
lower valuation discount rate of 7.9 percent.

However, the brokerage cut its distribution per unit
estimates for Starhill due to lower margins in Japan and weaker
growth in China.

WASHINGTON, Dec 9 Aetna Inc's chief
executive denied on Friday that its withdrawal from some
Obamacare exchanges was in retaliation for government efforts to
halt its merger with Humana Inc, as he sought to
convince a federal judge to approve the deal.

LOS ANGELES, Dec 9 President-elect Donald Trump
will remain an executive producer on the reality TV show
"Celebrity Apprentice," new host Arnold Schwarzenegger said on
Friday, defending the situation as similar to his own
transitions between politics and entertainment.

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